44-Unit Apartment
For Sale
$1,900,000
603 YVONNE Street, New Iberia, LA 70560
Uniform two-bedroom apartments with central air, separate utility metering, and in-place occupancy.
Property Size26,004 SF
Days on Market77
Property Features for 603 YVONNE Street
General Information
Standard status
Active
Size
26,004 SF
Net Rentable
26,004 SF
Property subtype
Apartment
Units
Unit Mix
44 x 2BR/1.5BA
Multifamily Units
44
Additional Details
Utilities to Site
Yes
Building Details
Building Size
26,004 SF
Year Built
1985
Buildings
11
Stories
1
Listing Agency:
Bridgewater Realty Advisors, LLC
Listed By:
Mason McCullough · License #LA9705
(504) 298-8631
Source:
Burkbrokerage
Added: Aug 14
Changed: Oct 26
Last Checked: Oct 28 at 2:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bridgewater Realty Advisors, LLC
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Investment Insights
Based on property information with market context.
Located at 603 Yvonne Street in New Iberia, Village Park comprises eleven single-story four-plexes totaling 44 apartments. Each residence offers two bedrooms, one and a half bathrooms, approximately 591 square feet, a stove, refrigerator, and central air. The property contains roughly 26,004 rentable square feet across contiguous lots.
Twenty-five units have been refreshed, and the roofs are approximately four years old. Separate metering is in place for each unit, with residents paying electricity, gas, and water. There are currently 21 occupied units, while the remaining apartments are available for improvement or tenant placement. The property was built in 1985.
Twenty-five units have been refreshed, and the roofs are approximately four years old. Separate metering is in place for each unit, with residents paying electricity, gas, and water. There are currently 21 occupied units, while the remaining apartments are available for improvement or tenant placement. The property was built in 1985.
Key Highlights
- 44‑unit apartment property arranged as eleven single‑story four‑plexes
- Uniform unit mix: 2 BR / 1.5 BA apartments averaging approximately 591 sqft
- Approximately 26,004 rentable square feet across contiguous lots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,754
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,175,080
$3.2M
Cap Rate 7%
$2,267,914
$2.3M
Cap Rate 9%
$1,763,933
$1.8M
Market Conditions
NOI Build-Up for 26,004 SF
Gross rent
$312.0K $12.00/SF
− Vacancy
−$23.4K −$0.90/SF
EGI
$288.6K $11.10/SF
− OpEx
−$129.9K −$5.00/SF
NOI
$158.8K $6.11/SF
Area
Iberia County, LA
Vacancy
7.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,175,080
Cap Rate 7%
$2,267,914
Cap Rate 9%
$1,763,933
Alternative Uses
Best Use
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,754 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.02M
NOI $301,064 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
44
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
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Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Uniform two-bedroom apartments with central air, separate utility metering, and in-place occupancy.
Where is this apartment building located?
The property is located at 603 YVONNE Street New Iberia, LA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 44‑unit apartment property arranged as eleven single‑story four‑plexes; Uniform unit mix: 2 BR / 1.5 BA apartments averaging approximately 591 sqft; Approximately 26,004 rentable square feet across contiguous lots
